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Tab_289L WESTERN FINANCIAL GROUP FINAL Wire Instructions Memorandum Alaska Municipal Bond Bank $80,435,000 General Obligation and Refunding Bonds, 2016 Series Three $29,400,000 General Obligation and Refunding Bonds, 2016 Series Four (AMT) To: 2016 Series Three and 2016 Series Four Working Group From Chip Pierce, Western Financial Group, LLC Date October 30, 2016 The following are final wire instructions for the closing of the above referenced financing. The closing will take place at 8:00 am (Pacific Time) on November 3, 2016, at the Seattle offices of Orrick: 701 5th Avenue, Suite 5600. Pre-closing will take place at 11:00 am (Pacific Time) on November 2, 2016, at the same location. Individuals from the borrowing communities that will be attending the pre-closing in person should contact their bond counsel to confirm when they should arrive. There will be seven providers and one initial recipient of funds at closing. The providers will be RBC Capital Markets ("RBC"), the senior managing underwriter of both series of the bonds, the City of Kodiak ("Kodiak"), the City of Bethel ("Bethel"), the City of Ketchikan ("Ketchikan"), the Kodiak Island Borough ("KIB"), the City of Seward ("Seward") and the Alaska Municipal Bond Bank ("AMBB"). The initial recipient will be The Bank of New York Mellon Trust Company ("BNY"). BNY will receive all funds relating to the borrower project funds, prior reserve fund, refunding escrow funds, and costs of issuance. BNY will then make subsequent wires to the underlying borrowers related to their projects, costs of issuance and rounding amounts. The table below presents the calculation of the funds wired by RBC to BNY on November 3, 2016: Par Amount of 2016 Three Bonds $80,435,000.00 Plus: Original Issue Premium 9,180,555.75 Less: Underwriter's Discount (235,589.17 Total Wire Amount $89,379,966.58 Par Amount of 2016 Four Bonds $29,400,000.00 Plus: Original Issue Premium 4,118,869.55 Less: Underwriter's Discount (99,333.90) Total Wire Amount $33,419,535.65 Phone.' (503) 719-6113 3300 NWl85th Ave., #270 Portland, OR 97229 Western Financial Group, LLC Alaska Municipal Bond Bank Final Wire Instructions Memorandum General Obligation and Refunding Bonds -2016 Series Three and 2016 Series Four On the morning of November 3, 2016, BNY will receive $122,799,502.23 from RBC for the 2016 Series Three and 2016 Series Four Bonds. Because the Bonds are dated the date of delivery, there is no accrued interest associated with this issue. On November 2, 2016, BNY will receive $319,683.64 from Bethel, representing the debt service reserve fund associated with Bethel's 2007 Three loan from the Bond Bank, Of that total, $102,183.64 will be applied to the refunding escrow for the refunding of the Bond Bank's 2007 Three Bonds. The balance of $217,500.00 will be held in the debt service reserve fund associated with Bethel's 2016 Three refunding loan. On Novemhei 2, 2016, BNY will receive $272,409.00 from KIB, representing excess bond proceeds associated with KIB's 2008 One loan from the Bond Bank. That amount will be applied to the refunding escrow for the refunding of the Bond Bank's 2008 One Bonds. On November 2, 2016, BNY will receive $2,634,321.52 from Ketchikan, representing the debt service reserve fund associated with Ketchikan's 2006 Two loan from the Bond Bank. Of that total, $394,321.52 will be applied to the refunding escrow for the refunding of the Bond Bank's 2006 Two Bonds. The balance of $2,240,000.00 will be held in the debt service reserve fund associated with Ketchikan's 2016 Four refunding loan. On No ember 2, 2016, BNY will receive $247,300.02 from Seward, representing the debt service reserve fund associated with Seward's 2007 harbor loan from the Bond Bank. That total will be applied to the debt service reserve fund associated with Seward's 2016 Three refunding loan. On November 3, 2016, BNY will hold a total of $508,774.95 of debt service reserve funds associated with Kodiak's 2007 Five Harbor and Boat Lift loans and 2009 Boat lift loan from the Bond Bank. BNY will apply those funds to the refunding escrow for the refunding of the Bond Bank's 2007 Five and 2009 One Bonds. Also on November 3, 2016, BNY will release $3,801,506.10 from the Bond Bank's 2005 Resolution Reserve, the proceeds of which will be applied to the refunding escrow associated with the reserve obligations related to the Bond Bank's 2006 Two, 2007 One, and 2007 Two Bonds, as well as to a portion of the cost of the surety premium associated with the deposit to the 2005 debt service reserve fund. The table below summarizes the sources of the funds that BNY will hold on the morning of November 3, 2016. Source of Funds City of Bethel Reserve Transfer Kodiak Island Borough Proceeds Transfer City of Ketchikan Reserve Transfer City of Seward Reserve Transfer City of Kodiak Reserve Funds AMBB 2005 Resolution Reserve Release Wires from RBC Total Funds on Hand at BNY - 11/3/16 Date Funds Received by BNY Amount November 2, 20-16 319,683.64 November 2, 2016 272,409.00 November 2, 2016 2,634,321.52 November 2, 2016 247,300.02 November 3, 2016 508,774.95 November 3, 2016 3,801,506.10 November 3, 2015 122,799,502.23 $130,583,497.46 The funds from Bethel, KIB, Ketchikan, and Seward will he wired to BNY on November 2, 2016, the day before the closing of the 2016 Three and 2016 Four bond issues. The following are wire instructions for funds wired to BNY by RBC, Bethel, KIB, Ketchikan and Seward: Page 2 Alaska Municipal Bond Bank Final Wire Instructions Memorandum General Obligation and Refunding Bonds - 2016 Series Three and 2016 Series Four THE BANK OF NEW YORK MELLON ABA# 021000018 Account # 5103668400 Account Name: AMBB GO Bond Proceeds The following table summarizes the allocation of the $130,583,497.46 total cash held by BNY on November 3rd: Recipient Amount Deposit to AMBB 2016 Three and 2016 Four Redemption Accounts $102,947,946.82 Deposit to CBJ 2008 Redemption Account 18,755,998,27 Petersburg Borough (includes borrower COI & rounding) 11,663.31 City of Nome (includes borrower COT & rounding) 5,292.24 Northwest Arctic Borough (includes borrower COT & rounding) 14,085.38 City of Seward (includes borrower COI & rounding) 25,536.75 City of Wasilla (includes borrower COT & rounding) 7,981.81 City and Borough of Sitka (includes borrower COT & rounding) 10,815.49 Aleutians East Borough (includes borrower COT & rounding) 29,678.27 Kenai Peninsula Borough (includes borrower COT & rounding) 22,697.98 City of Bethel (includes borrower COT & rounding) 18,111.35 Deposit to Bethel Reserve Fund 217,500.00 City of Kodiak (includes borrower COT & rounding) 27,285.00 Deposit to Kodiak Reserve Fund 461,581.28 City of Dillingham (includes borrower COT & rounding) 18,139.71 Kodiak Island Borough (includes borrower COT & rounding) 16,622.67 Deposit to Seward Reserve Fund 247,300.02 Municipality of Skagway (includes borrower COT & rounding) 4,247.51 City and Borough of Juneau (includes borrower project funds, COT & rounding) 3,034,853.42 City of Ketchikan (includes borrower project funds, COT & rounding) 2,064,605.08 Deposit to Ketchikan Reserve Fund 2,240,000.00 Bond Bank Costs of Issuance 241,855.10 Premiums for AMBB Reserve Surety and Bond Insurance 159,700.00 Total $130,583,497.46 Debt Service Reserve Deposits AMBB Debt Service Reserves On November 3, 2016, BNY will wire $150,000.00 to National Public Finance Guarantee Corporation to fulfill the AMBB 2005 Resolution debt service reserve fund requirement related to the 2016 Three and Four Bonds. Additionally, BNY will wire $9,700.00 to the same account, representing insurance premiums related to certain maturities of the 2016 Three and 2016 Four Bonds which carry National insurance. The following are wire instructions related to the 2005 Resolution Reserve requirement and insurance premiums: Page 3 Alaska Municipal Bond Bank Final Wire Instructions Memorandum General Obligation and Refunding Bonds -2016 Series Three and 2016 Series Four Bank Name: JP Morgan Chase Bank City & State: New York, NY Beneficiary: National PFG -- Premium Account #: 304 6 99020 ABA #: 021-000-021 Policy Numbers: NP1404500 and NP1404510 City of Bethel Debt Service Reserve On November 3, 2016, BNY will deposit $217,500.00 to the debt service reserve fund associated with the City of Bethel 2016 Three loan. City of Kodiak Debt Service Reserves On November 3, 2016, BNY will retain $461,581.28 in the debt service reserve fund associated with the City of Kodiak 2016 Three loans. City of Seward Debt Service Reserves On November 3, 2016, BNY will deposit $247,300.02 in the debt service reserve fund associated with the City of Seward 2016 Three loan. City of Ketchikan Debt Service Reserve On November 3, 2016, BNY will deposit $2,240,000.00 to the debt service reserve fund associated with the City of Ketchikan's 2016 Four loan. Application of Bond Proceeds for Refunding Purposes Prior Alaska Municipal Bond Bank Bonds On November 3, 2016, BNY will deposit $102,947,946.82 to the escrow fund established to refund prior Alaska Municipal Bond Bank bonds. Of this total, $27.82 will be held as cash and $102,947,919.00 will be applied to the purchase of U.S. Treasury securities for defeasance of the AMBB refunded bonds. City and Borough of Juneau On November 3, 2016, BNY will deposit $18,755,998.27 to the escrow fund established to refund the City and Borough of Juneau's 2006B Bonds. Of this total, $10.27 will be held as cash and $18,755,988.00 will be applied to the purchase of U.S. Treasury securities for defeasance of the CBJ refunded bonds. Alaska Municipal Bond Bank Proceeds BNY will retain $241,855.10 associated with costs of issuance related to the 2016 Three and 2016 Four Bonds and make distributions according to Bond Bank instructions. In addition, AMBB will, at a later date, reimburse the State of Alaska Department of Law $61,462.90 for payment of a portion of bond counsel costs associated with the issuance of the 2016 Series Three and 2016 Series Four Bonds. Distribution of Borrower Loan Proceeds Petersburg Borough On November 3, 2016, BNY will wire $11,663.31 to the Petersburg Borough. This amount represents the funds associated with the Borough's costs of issuance funds and the rounding amounts associated with its refunding loan. The following are wire instructions for funds that will be wired from BNY to the Petersburg Borough: Page Alaska Municipal Bond Bank Final Wire Instructions Memorandum General Obligation and Refunding Bonds - 2016 Series Three and 2016 Series Four Wells Fargo, N.A. ABA Number: 121-000-248 Account Name: Petersburg Borough Account Number: 26030659 Ref: Bond Bank Refunding City of Nome On November 3, 2016, BNY will wire $5,292.24 to the City of Nome. This amount represents the funds associated with the City's costs of issuance funds and the rounding amounts associated with its refunding loan. The following are wire instructions for funds that will be wired from BNY to Nome: Wells Fargo Bank ABA # 121-000-248 Account Number: 1102112690 Account Name: City of Nome Reference: City of Nome 2016 Refunding Bond Contact Jake Slingsby - (907) 443-7688 Northwest Arctic Borough On November 3, 2016, BNY will wire $14,085.38 to the Northwest Arctic Borough. This amount represents the funds associated with the Borough's costs of issuance and the rounding amount associated with its refunding loan. The following are wire instructions for funds that will be wired from BNY to the Northwest Arctic Borough: Northwest Arctic Borough Wells Fargo Bank ABA# 121-000-248 Account # 064111520 Attention: Angie Sturm City of Seward On November 3, 2016, BNY will wire $25,536.75 to the City of Seward. This amount represents the funds associated with the City's costs of issuance and the rounding amount associated with its refunding loan. The following are wire instructions for funds that will be wired from BNY to Seward: Wells Fargo, N.A. ABA# 121-000-248 Account Number (BNF): 1100870474 Account Name: City of Seward Bank Contact: Steve Manley (907) 224-5283 City of Wasilla On November 3, 2016, BNY will wire $7,981.81 to the City of Wasilla. This amount represents the funds associated with the City's costs of issuance and the rounding amount associated with its refunding loan. The following are wire instructions for funds that will be wired from BNY to the City of Wasilla: Page 5 Alaska Municipal Bond Bank Final Wire Instructions Memorandum General Obligation and Refunding Bonds -2016 Series Three and 2016 Series Four Wells Fargo Bank ABA Routing #: 121-000-248 Account #: 0033221030 Account Name: City of Wasilla Reference: 2016 Refunding Bond Bank Contact: Stephanie Berta: 907-376-6606 City and Borough of Sitka On November 3, 2016, BNY will wire $10,815.49 to the City and Borough of Sitka. This amount represents the funds associated with the Borough's costs of issuance and the rounding amount associated with its refunding loan. The following are wire instructions for funds that will be wired from BNY to Sitka: First National Bank Alaska Trust Department Anchorage, Alaska ABA #125-200-060 REF: 2040209816/56655000 Account number Account name - City and Borough of Sitka Custody Account Reference 2016 Refunding Bonds Aleutians East Borough On November 3, 2016, BNY will wire $29,678.27 to the Aleutians East Borough. This amount represents the funds associated with the Borough's costs of issuance and the rounding amount associated with its refunding loan. The following are wire instructions for funds that will be wired from BNY to the Aleutians East Borough: Key Bank/ Cleveland, Ohio ABA #014-001-039 Benefit Account: 5064 Cash Processing ATTN: lAS Service Center Beneficiary: Aleutians East Borough Account # 20122005596 Kenai Peninsula Borough On November 3, 2016, BNY will wire $22,697.98 to the Kenai Peninsula Borough. This amount represents the funds associated with the Borough's costs of issuance and the rounding amount associated with its refunding loan. The following are wire instructions for funds that will be wired from BNY to the Kenai Peninsula Borough: Key Bank Cleveland, Ohio ABA #041001039 Acct #5064 FBO AMLIP- KPB 2016 Refunding Bonds 0025740.1 City of Bethel On November 3, 2016, BNY will wire $18,111.35 to the City of Bethel. This amount represents the funds associated with the City's costs of issuance and the rounding amount associated with its refunding loan. The following are wire instructions for funds that will be wired from BNY to the City of Bethel: Page 6 Alaska Municipal Bond Bank Final Wire Instructions Memorandum General Obligation and Refunding Bonds - 2016 Series Three and 2016 Series Four Wells Fargo Bank ABA # 121-000-248 Account Number 0074503847 Reference: For the Account of the City of Bethel Attn: Bobby Sutton (907) 543-1375 City of Kodiak On November 3, 2016, BNY will wire $27,285.00 to the City of Kodiak. This amount represents the funds associated with the City's costs of issuance and the rounding amounts associated with its refunding loans. The following are wire instructions for funds that will be wired from BNY to Kodiak: First National Bank of Alaska Routing Number: 125-200-060 Account Number: 30775217 Account Name: City of Kodiak General Account City of Dillingham On November 3, 2016, BNY will wire $18,139.71 to the City of Dillingham. This amount represents the funds associated with the City's costs of issuance and the rounding amount associated with its refunding loan. The following are wire instructions for funds that will be wired from BNY to Dillingham: Wells Fargo Bank, NA ABA #121-000-248 Account #0022003096 For Credit to: City of Dillingham, AK Wells Fargo Bank 512 Seward Street Dillingham, Alaska 99576 Kodiak Island Borough On November 3, 2016, BNY will wire $16,622.67 to Kodiak Island Borough. This amount represents the funds associated with the Borough's costs of issuance and the rounding amount associated with its refunding loan. The following are wire instructions for funds that will be wired from BNY to Kodiak Island Borough: Wells Fargo ABA #: 121-000-248 Account Number 10502505 Attention: Jody (907) 486-3127 Municipality of Skagway On November 3, 2016, BNY will wire $4,247.51 to the Municipality of Skagway. This amount represents the funds associated with the Borough's costs of issuance and the rounding amount associated with its refunding loan. The following are wire instructions for funds that will be wired from BNY to Skagway: Wells Fargo Bank ABA# 121-000-248 Account # 0009030220 Wells Fargo Contact: Mitchell Jackson (907) 586-2460 ext. 4 Page 7 Alaska Municipal Bond Bank Final Wire Instructions Memorandum General Obligation and Refunding Bonds -2016 Series Three and 2016 Series Four City and Borough of Juneau On November 3, 2016, BNY will wire $3,034,853.42 to the City and Borough of Juneau. This amount is comprised of $3,000,000 for the transit improvement projects and $34,853.42 for CBJ costs of issuance and rounding amounts. The following are wire instructions for funds that will be wired from BNY to Juneau: Bank Name: First National Bank Alaska City & State: Anchorage, AK ABA #: 125200060 Account Name: City and Borough of Juneau Account #: 6801641 City of Ketchikan On November 3, 2016 BNY will wire $2,064,605.08 to the City of Ketchikan. This amount is comprised of $2,000,000 for the harbor improvement projects and $64,605.08 for Ketchikan costs of issuance and rounding amounts. The following are wire instructions for funds that will be wired from BNY to the City of Ketchikan: Wells Fargo Bank, NA - San Francisco, CA ABA #121-000-248 BNF: 0011030011 ACCOUNT NAME: City of Ketchikan Reference: City of Ketchikan 2016 Port Refunding and Improvement Loan The table below present the CUSIP numbers associated with each maturity of the 2016 Series Three Bonds: 2016 Series Three Bonds CUSIP Number Due Par Amount Coupon 01179R December 1, 2016 $ 460,000 2.00% 5M6 December 1, 2017 7,150,000 2.00% SN4 December 1, 2018 9,110,000 4.00% SF9 December 1, 2019 8,220,000 4.00% SQ7 December 1, 2020 9,105,000 4.00% SR5 December 1, 2021 8,230,000 4,00% SS3 December 1, 2022 4,490,000 5.00% ST1 December 1, 2023 4,885,000 5.00% SU8 December 1, 2024 4,450,000 5.00% SV6 December 1, 2025 4,735,000 5.00% SW4 December 1, 2026 5,005,000 5.00% SX2 December 1, 2027 4,855,000 5.00% SYO December 1, 2028 2,755,000 5,00% 5Z7 December 1, 2029 675,000 3.00% TA1 December 1, 2030 700,000 3.125% TB9 December 1, 2031 720,000 3.125% TC7 December 1, 2033 1,535,000 3.25% TD5 December 1, 2037 3,355,000 3,375% TE3 Page 8 Alaska Municipal Bond Bank Final Wire Instructions Memorandum General Obligation and Refunding Bonds -2016 Series Three and 2016 Series Four The table below present the CUSIP numbers associated with each maturity of the 2016 Series Four Bonds: 2016 Series Four Bonds CUSIP Number Due Par Amount Coupon 01179R December 1, 2016 610,000 2.00% TFO December 1, 2017 950,000 3.00% TG8 December 1, 2018 990,000 5.00% TH6 December 1, 2019 1,045,000 5.00% TJ2 December 1, 2020 1,090,000 5.00% TK9 December 1, 2021 1,145,000 5.00% TL7 December 1, 2022 1,205,000 5.00% TM5 December 1, 2023 1,260,000 5.00% TN3 December 1, 2024 1,325,000 5.00% TP8 December 1, 2025 1,390,000 5.00% TQ6 December 1, 2026 1,460,000 5.00% TR4 December 1, 2027 1,535,000 5.00% TS2 December 1, 2028 1,615,000 5.00% TTO December 1, 2029 1,690,000 5.00% TU7 December 1, 2030 1,780,000 5.00% TV5 December 1, 2031 1,865,000 5.00% TW3 December 1, 2032 1,960,000 5.00% TX1 December 1, 2033 2,055,000 5.00% TY9 December 1, 2034 2,165,000 5.00% TZ6 December 1, 2035 2,265,000 5.00% UA9 If you have any questions related to this memo or the accompanying pages, please contact Chip Pierce at (503) 719-6113. Thank you for your assistance. Page 9